Noida: Everybody who comes from far-off places to Noida, dreams of owning a flat, but due to rising inflation day by day, this dream of people remains just a dream. At the same time, property prices in Noida adjacent to Delhi are also going to increase rapidly. The reason is that the Noida Authority is going to increase the land allotment rate soon.
Rates increased from Rs 1.18 lakh to Rs 1.25 lakh
At the same time, officials familiar with the matter have confirmed that the authority has increased land allotment rates in all categories except commercial and corporate house plots. This step taken to address the pressure of rising inflation will particularly affect residential land parcels in Noida’s A, B, C, D and E categories. Especially the rates for A-category residential areas, which include major areas like Sector 14, 17, 19, 30, 35, 36, 39, 44, 47, 50, 51, 52, 93, 93-A and 93-B. Has increased from Rs 1.18 lakh to Rs 1.25 lakh per square meter.
There will be different rates according to location and category
In the recent board meeting held in Lucknow, Noida Authority approved a big budget of Rs 7,700 crore for the financial year 2024-25. The decision to adjust the land allotment rates was also formalized in this meeting, which reflects the authority’s strategy to manage economic pressures while supporting planned urban development. As per the revised rates, residential land in categories B, C, D and E will now cost between Rs 48,110 and Rs 87,370 per square metre, which will vary according to location and category. With these changes, stakeholders expect further increases in property prices across Noida, which speaks about the dynamic real estate market of the region amid the emerging economic conditions. That is, property rates may see a further increase in the coming months.